CARRIER GLOBAL CORP (CARR) Fundamental Analysis & Valuation

NYSE:CARR • US14448C1045

Current stock price

58.97 USD
+1.36 (+2.36%)
At close:
58.68 USD
-0.29 (-0.49%)
Pre-Market:

This CARR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. CARR Profitability Analysis

1.1 Basic Checks

  • CARR had positive earnings in the past year.
  • CARR had a positive operating cash flow in the past year.
  • CARR had positive earnings in each of the past 5 years.
  • In the past 5 years CARR always reported a positive cash flow from operatings.
CARR Yearly Net Income VS EBIT VS OCF VS FCFCARR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

1.2 Ratios

  • CARR has a Return On Assets (3.99%) which is in line with its industry peers.
  • The Return On Equity of CARR (10.75%) is comparable to the rest of the industry.
  • The Return On Invested Capital of CARR (5.06%) is worse than 69.05% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for CARR is significantly below the industry average of 11.92%.
Industry RankSector Rank
ROA 3.99%
ROE 10.75%
ROIC 5.06%
ROA(3y)7.69%
ROA(5y)8.6%
ROE(3y)22.03%
ROE(5y)27.25%
ROIC(3y)5.56%
ROIC(5y)8.12%
CARR Yearly ROA, ROE, ROICCARR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • The Profit Margin of CARR (6.82%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of CARR has declined.
  • CARR's Operating Margin of 10.01% is in line compared to the rest of the industry. CARR outperforms 45.24% of its industry peers.
  • In the last couple of years the Operating Margin of CARR has declined.
  • CARR has a worse Gross Margin (26.05%) than 64.29% of its industry peers.
  • In the last couple of years the Gross Margin of CARR has declined.
Industry RankSector Rank
OM 10.01%
PM (TTM) 6.82%
GM 26.05%
OM growth 3Y-22.02%
OM growth 5Y-1.52%
PM growth 3Y-26.67%
PM growth 5Y-9.68%
GM growth 3Y-0.94%
GM growth 5Y-2.38%
CARR Yearly Profit, Operating, Gross MarginsCARR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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3

2. CARR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CARR is destroying value.
  • The number of shares outstanding for CARR has been reduced compared to 1 year ago.
  • CARR has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, CARR has an improved debt to assets ratio.
CARR Yearly Shares OutstandingCARR Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
CARR Yearly Total Debt VS Total AssetsCARR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • CARR has an Altman-Z score of 2.55. This is not the best score and indicates that CARR is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.55, CARR is not doing good in the industry: 61.90% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of CARR is 5.65, which is a neutral value as it means it would take CARR, 5.65 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of CARR (5.65) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.82 indicates that CARR is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.82, CARR is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 5.65
Altman-Z 2.55
ROIC/WACC0.55
WACC9.28%
CARR Yearly LT Debt VS Equity VS FCFCARR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B

2.3 Liquidity

  • A Current Ratio of 1.20 indicates that CARR should not have too much problems paying its short term obligations.
  • CARR has a worse Current ratio (1.20) than 88.10% of its industry peers.
  • CARR has a Quick Ratio of 1.20. This is a bad value and indicates that CARR is not financially healthy enough and could expect problems in meeting its short term obligations.
  • CARR has a Quick ratio of 0.85. This is amonst the worse of the industry: CARR underperforms 80.95% of its industry peers.
Industry RankSector Rank
Current Ratio 1.2
Quick Ratio 0.85
CARR Yearly Current Assets VS Current LiabilitesCARR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

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4

3. CARR Growth Analysis

3.1 Past

  • CARR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.86%.
  • CARR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.22% yearly.
  • Looking at the last year, CARR shows a very negative growth in Revenue. The Revenue has decreased by -24.14% in the last year.
  • Measured over the past years, CARR shows a small growth in Revenue. The Revenue has been growing by 4.49% on average per year.
EPS 1Y (TTM)-7.86%
EPS 3Y3.46%
EPS 5Y9.22%
EPS Q2Q%-37.04%
Revenue 1Y (TTM)-24.14%
Revenue growth 3Y2.12%
Revenue growth 5Y4.49%
Sales Q2Q%-6.04%

3.2 Future

  • Based on estimates for the next years, CARR will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.99% on average per year.
  • Based on estimates for the next years, CARR will show a small growth in Revenue. The Revenue will grow by 6.95% on average per year.
EPS Next Y10.4%
EPS Next 2Y12.13%
EPS Next 3Y13.57%
EPS Next 5Y15.99%
Revenue Next Year0.45%
Revenue Next 2Y2.88%
Revenue Next 3Y3.93%
Revenue Next 5Y6.95%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CARR Yearly Revenue VS EstimatesCARR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
CARR Yearly EPS VS EstimatesCARR Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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2

4. CARR Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 22.86, CARR is valued on the expensive side.
  • Based on the Price/Earnings ratio, CARR is valued a bit more expensive than the industry average as 61.90% of the companies are valued more cheaply.
  • When comparing the Price/Earnings ratio of CARR to the average of the S&P500 Index (25.73), we can say CARR is valued inline with the index average.
  • Based on the Price/Forward Earnings ratio of 20.70, the valuation of CARR can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of CARR is on the same level as its industry peers.
  • CARR's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.72.
Industry RankSector Rank
PE 22.86
Fwd PE 20.7
CARR Price Earnings VS Forward Price EarningsCARR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, CARR is valued a bit more expensive than 64.29% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of CARR is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 23.52
EV/EBITDA 17.27
CARR Per share dataCARR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • A more expensive valuation may be justified as CARR's earnings are expected to grow with 13.57% in the coming years.
PEG (NY)2.2
PEG (5Y)2.48
EPS Next 2Y12.13%
EPS Next 3Y13.57%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. CARR Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.70%, CARR has a reasonable but not impressive dividend return.
  • CARR's Dividend Yield is rather good when compared to the industry average which is at 0.75. CARR pays more dividend than 85.71% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, CARR has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.7%

5.2 History

  • CARR has been paying a dividend for over 5 years, so it has already some track record.
  • CARR has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years4
Div Non Decr Years4
CARR Yearly Dividends per shareCARR Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

5.3 Sustainability

  • 52.02% of the earnings are spent on dividend by CARR. This is a bit on the high side, but may be sustainable.
DP52.02%
EPS Next 2Y12.13%
EPS Next 3Y13.57%
CARR Yearly Income VS Free CF VS DividendCARR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B
CARR Dividend Payout.CARR Dividend Payout, showing the Payout Ratio.CARR Dividend Payout.PayoutRetained Earnings

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CARR Fundamentals: All Metrics, Ratios and Statistics

CARRIER GLOBAL CORP

NYSE:CARR (3/19/2026, 8:04:00 PM)

Premarket: 58.68 -0.29 (-0.49%)

58.97

+1.36 (+2.36%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryBuilding Products
Earnings (Last)02-05
Earnings (Next)04-29
Inst Owners86%
Inst Owner Change-3.91%
Ins Owners6.16%
Ins Owner Change10.19%
Market Cap49.29B
Revenue(TTM)21.75B
Net Income(TTM)1.48B
Analysts78.06
Price Target73.49 (24.62%)
Short Float %2.58%
Short Ratio2.69
Dividend
Industry RankSector Rank
Dividend Yield 1.7%
Yearly Dividend0.9
Dividend Growth(5Y)N/A
DP52.02%
Div Incr Years4
Div Non Decr Years4
Ex-Date01-20
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.47%
Min EPS beat(2)-10.37%
Max EPS beat(2)15.31%
EPS beat(4)2
Avg EPS beat(4)3.43%
Min EPS beat(4)-10.37%
Max EPS beat(4)15.31%
EPS beat(8)5
Avg EPS beat(8)4.01%
EPS beat(12)9
Avg EPS beat(12)4.17%
EPS beat(16)12
Avg EPS beat(16)4.81%
Revenue beat(2)0
Avg Revenue beat(2)-3.44%
Min Revenue beat(2)-5.05%
Max Revenue beat(2)-1.83%
Revenue beat(4)0
Avg Revenue beat(4)-2.46%
Min Revenue beat(4)-5.05%
Max Revenue beat(4)-1.31%
Revenue beat(8)0
Avg Revenue beat(8)-4.11%
Revenue beat(12)2
Avg Revenue beat(12)-3.21%
Revenue beat(16)3
Avg Revenue beat(16)-2.61%
PT rev (1m)1.71%
PT rev (3m)-0.51%
EPS NQ rev (1m)-0.83%
EPS NQ rev (3m)-11.85%
EPS NY rev (1m)-4.21%
EPS NY rev (3m)-6.08%
Revenue NQ rev (1m)-0.02%
Revenue NQ rev (3m)-3.66%
Revenue NY rev (1m)-2.4%
Revenue NY rev (3m)-3.55%
Valuation
Industry RankSector Rank
PE 22.86
Fwd PE 20.7
P/S 2.27
P/FCF 23.52
P/OCF 19.81
P/B 3.57
P/tB N/A
EV/EBITDA 17.27
EPS(TTM)2.58
EY4.38%
EPS(NY)2.85
Fwd EY4.83%
FCF(TTM)2.51
FCFY4.25%
OCF(TTM)2.98
OCFY5.05%
SpS26.02
BVpS16.52
TBVpS-9.6
PEG (NY)2.2
PEG (5Y)2.48
Graham Number30.96
Profitability
Industry RankSector Rank
ROA 3.99%
ROE 10.75%
ROCE 7.24%
ROIC 5.06%
ROICexc 5.34%
ROICexgc 22.75%
OM 10.01%
PM (TTM) 6.82%
GM 26.05%
FCFM 9.64%
ROA(3y)7.69%
ROA(5y)8.6%
ROE(3y)22.03%
ROE(5y)27.25%
ROIC(3y)5.56%
ROIC(5y)8.12%
ROICexc(3y)7.22%
ROICexc(5y)10.08%
ROICexgc(3y)26.77%
ROICexgc(5y)32.8%
ROCE(3y)7.94%
ROCE(5y)11.6%
ROICexgc growth 3Y-26.73%
ROICexgc growth 5Y-0.37%
ROICexc growth 3Y-33.6%
ROICexc growth 5Y-7.35%
OM growth 3Y-22.02%
OM growth 5Y-1.52%
PM growth 3Y-26.67%
PM growth 5Y-9.68%
GM growth 3Y-0.94%
GM growth 5Y-2.38%
F-Score4
Asset Turnover0.58
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 5.65
Debt/EBITDA 3.29
Cap/Depr 30.77%
Cap/Sales 1.8%
Interest Coverage 5.16
Cash Conversion 72.12%
Profit Quality 141.24%
Current Ratio 1.2
Quick Ratio 0.85
Altman-Z 2.55
F-Score4
WACC9.28%
ROIC/WACC0.55
Cap/Depr(3y)54.1%
Cap/Depr(5y)71.4%
Cap/Sales(3y)2.14%
Cap/Sales(5y)1.96%
Profit Quality(3y)100.42%
Profit Quality(5y)90.87%
High Growth Momentum
Growth
EPS 1Y (TTM)-7.86%
EPS 3Y3.46%
EPS 5Y9.22%
EPS Q2Q%-37.04%
EPS Next Y10.4%
EPS Next 2Y12.13%
EPS Next 3Y13.57%
EPS Next 5Y15.99%
Revenue 1Y (TTM)-24.14%
Revenue growth 3Y2.12%
Revenue growth 5Y4.49%
Sales Q2Q%-6.04%
Revenue Next Year0.45%
Revenue Next 2Y2.88%
Revenue Next 3Y3.93%
Revenue Next 5Y6.95%
EBIT growth 1Y-13.55%
EBIT growth 3Y-20.37%
EBIT growth 5Y2.91%
EBIT Next Year26.16%
EBIT Next 3Y15.42%
EBIT Next 5YN/A
FCF growth 1Y475.82%
FCF growth 3Y14.67%
FCF growth 5Y8.72%
OCF growth 1Y181.77%
OCF growth 3Y12.59%
OCF growth 5Y8.02%

CARRIER GLOBAL CORP / CARR Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for CARRIER GLOBAL CORP?

ChartMill assigns a fundamental rating of 3 / 10 to CARR.


Can you provide the valuation status for CARRIER GLOBAL CORP?

ChartMill assigns a valuation rating of 2 / 10 to CARRIER GLOBAL CORP (CARR). This can be considered as Overvalued.


How profitable is CARRIER GLOBAL CORP (CARR) stock?

CARRIER GLOBAL CORP (CARR) has a profitability rating of 3 / 10.


What is the financial health of CARRIER GLOBAL CORP (CARR) stock?

The financial health rating of CARRIER GLOBAL CORP (CARR) is 3 / 10.


How sustainable is the dividend of CARRIER GLOBAL CORP (CARR) stock?

The dividend rating of CARRIER GLOBAL CORP (CARR) is 4 / 10 and the dividend payout ratio is 52.02%.